Vietnam Business News

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• Investors snap up land in provinces near HCM city
• Danang is a property shining light
• 6,000 Vietnamese Apply To Buy Cheap Hanoi Houses
• Interest rates are set to head South
• Overseas Vietnamese workers to send home $1.8 bln: ministry
• Vietnam bonds drop as overnight rates rise; Dong little changed
• HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale
• Firms lose no sleep over rough ride
• Mazut oil imports won’t be tax-exempt, says Deputy PM
• New rules for firms in fuel trade

Investors snap up land in provinces near HCM city Posted: 13 Sep 2011 01:38 AM PDT The land market in three neighbouring provinces of HCM City, Binh Duong, Long An and Dong Nai, is showing signs of recovery, The land market in three neighbouring provinces of HCM City, Binh Duong, Long An and Dong Nai, is showing signs of recovery, with 85 lots in the IJC Commercial Town project in Binh [...]

Danang is a property shining light Posted: 12 Sep 2011 10:40 PM PDT Despite the recent gloomy real estate market, second home projects in Danang have been selling well with buyers snapping up luxury villas as an investment and lifestyle choice. With the government's current monetary tightening policy, high inflation and lending interest rates, the nation's realty market has slumped since the middle of last year. While almost [...]

6,000 Vietnamese Apply To Buy Cheap Hanoi Houses Posted: 12 Sep 2011 10:39 PM PDT More than 6,000 applications have been made to buy cheap houses in Hanoi, the Ministry of Construction said at a press briefing Wednesday to announce the first cheap house festival later this month. According to the ministry, the applications were made for houses between VND1-2 billion (US$95,000) at apartment buildings. Many applications were made by [...]

Interest rates are set to head South Posted: 12 Sep 2011 10:38 PM PDT Analysts are predicting interest rates will fall in tandem with inflation this year. Vietnam's consumer price index (CPI) for August was up only 0.93 per cent on-month, the lowest rise this year. August was also the first month the CPI rose under 1 per cent, signaling a slowdown in price rises as tightening monetary policies [...]

Overseas Vietnamese workers to send home $1.8 bln: ministry Posted: 12 Sep 2011 10:38 PM PDT Vietnamese laborers working abroad are expected to send home some $1.8 billion by the year-end, said Overseas Labor Management Department under the Ministry of Labor, War Invalids and Social Affairs. They sent back $1 billion worth of inward remittance to the country in the first six months of this year, said the department. The agency [...]

Vietnam bonds drop as overnight rates rise; Dong little changed Posted: 12 Sep 2011 10:37 PM PDT Vietnam's five-year bonds declined for a second day, pushing yields to a one-week high, as an increase in money-market rates made it more expensive to buy debt with borrowed funds. The overnight interbank deposit rate rose to 12.56 percent from 12.40 percent at the end of the last week, according to data compiled by Bloomberg. [...]

HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale Posted: 12 Sep 2011 10:37 PM PDT HSBC Holdings Plc (HSBA) and Barclays Bank Plc will advise Vietnam Joint Stock Commercial Bank for Industry & Trade on its planned $500 million overseas bond sale, said Deputy General Director Le Duc Tho. The banks will also jointly arrange the sale for VietinBank, as the country's second-largest listed lender is known, Tho said in [...]

Firms lose no sleep over rough ride Posted: 12 Sep 2011 10:36 PM PDT Economic instability is eating away at business confidence in Vietnam, but some transnational firms are keeping the faith. NSG Group, the world's leading manufacturer of glass and glazing systems, for instance, last week kicked-off the construction of its two new lines in southern Ba Ria-Vung Tau province, where the firm is already operating a glass [...]

Mazut oil imports won’t be tax-exempt, says Deputy PM Posted: 12 Sep 2011 10:35 PM PDT Deputy Prime Minister Vu Van Ninh has denied a proposal, valued at US$5.6 million, based on tax free mazut oil imports by the Hiep Phuoc Power Company, following an Electricity of Viet Nam request. Ninh’s desicion came after the Ministry of Finance urged the Government to reject tax incentives as required by EVN to help [...]

New rules for firms in fuel trade Posted: 12 Sep 2011 10:35 PM PDT Starting from Octorber 21, domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws, according to the Ministry of Finance (MoF). As part of the new policies, fuel-trading activities between licensed traders and producers will be required to operate in accordance with General [...]

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